Updated over 8 years ago on . Most recent reply
Getting Started by Partnering With Someone With Experience
I would like the communities opinion on partnerships for buy and hold strategies. I have been approached by several out of state investors asking if I would be willing to partner with them on rentals. I am a local investor in Dayton OH and it's no secret that we have some of the best deals anywhere in the country from a cash flow standpoint and our point of entry is very attractive to say the least. I have been doing some wholesale deals for a while trying to raise cash to continue buying and holding my own properties that I have had great success with in the past. I self manage and do my own rehabs but am looking to scale.
The Question....
1. Do you find it beneficial for someone like me who has been having success on my own to partner with someone from a distance that could bring cash and credit to the table and speed up the process, or keep it slow and steady?
2. Would you advise someone who is looking to get started investing OOS by partnering with someone like me with a local boots on the ground experience or to try and do it 100% on their own and just use contractors, and PM to retain 100% ownership?
I'm looking for feedback from anyone that has experience with this or that may have looked into it as it is something that has been proposed to me on several occasions and I'm not sure how I want to proceed. Thanks in advance.
Ozzy